Wahanaya.lk articles
Practical advice on buying, selling, leasing and looking after a vehicle in Sri Lanka.
FeaturedAdvice
Yes, banks and finance companies lease motorcycles the same way they lease cars. Since 25 May 2026, CBSL rules require at least 60% down payment on a brand-new bike and 40% on one registered over a year, plus your NIC, income proof and the bike's papers.
Wahanaya.lk team7 min read
Showing 1–13 of 121 articles
Check the chassis and engine numbers stamped on the vehicle against the CR book, confirm the seller matches the registered owner's NIC, and cross-check the registration on DMT eServices before you pay. If anything doesn't match exactly, walk away or verify at an RMV office first.
Wahanaya.lk team7 min read
Yes. Private limited companies, partnerships and sole proprietors can all lease a vehicle in Sri Lanka, but on top of the normal lease papers, the finance company will want your business registration documents, director or partner NICs, and usually a director's personal guarantee.
Wahanaya.lk team6 min read
Yes, most Sri Lankan leasing companies let you pick your own insurer, but the insurer must be acceptable to them, cover must be comprehensive, and the leasing company's interest must be noted on the policy for the whole lease term.
Wahanaya.lk team6 min read
A guarantor on a Sri Lankan vehicle lease is liable for the full unpaid balance if the borrower defaults, not just a share, and most agreements let the finance company sue the guarantor directly. It also shows on the guarantor's own CRIB report for years.
Wahanaya.lk team8 min read
Enter the car's chassis number, your NIC/passport and mobile number at Sri Lanka Customs' Vehicle Verification Portal (services.customs.gov.lk/vehicles) and you'll get an SMS confirming whether it was legally cleared, locally assembled from imported parts, or fitted with fraudulent number plates.
Wahanaya.lk team6 min read
Absolute owner on a CR book means a finance company or bank still legally owns the vehicle under an unpaid lease or loan. You can buy it, but the financier must give a written release before DMT transfers it to you.
Wahanaya.lk team6 min read
Yes. The new finance company pays off your existing lease in full, your old financier releases its absolute ownership on the CR book, and the new company registers as the new owner with a fresh facility — you can't just 'transfer' the old lease as-is.
Wahanaya.lk team6 min read
There's no single rule. Each bank or finance company sets its own age limit for the main applicant, commonly somewhere between 55 and 65, and a few publish no upper limit at all, so you must check with the specific lender.
Wahanaya.lk team6 min read
As of November 2026, CBSL caps vehicle financing at 40% of value for new private cars, SUVs, vans and three-wheelers, 60% for new commercial vehicles, and 60% for any used, already-registered vehicle — you must fund the rest yourself.
Wahanaya.lk team6 min read
Yes, leasing companies in Sri Lanka lease to self-employed people without a salary slip. Instead, you show 6 months of bank statements, your business registration certificate, TIN, and income tax returns or audited accounts as proof of income.
Wahanaya.lk team6 min read
Wash your car's underbody with fresh water often, clear door and sill drain holes, fix stone chips fast, and get a rubberised (not wax) underbody coating if you live or drive near the coast.
Wahanaya.lk team6 min read
If your leased vehicle is written off, the insurance payout goes first to the finance company to settle your outstanding lease balance, because it is still the absolute owner on your CR book. You get any surplus, but you must pay any shortfall.
Wahanaya.lk team7 min read
